EURUSD, “Euro vs US Dollar”
On H4, the quotes of EURUSD are under the 200-days Moving Average, which indicates the prevalence of a downtrend. Currently, we should expect a test of 4/8, a breakaway of it, and a decline to the support level of 2/8. The scenario can be cancelled by a breakaway of 5/8 upwards. In this case, the pair can reach the resistance level of 6/8.
On M15, a breakaway of the lower line of VoltyChannel will be an additional signal supporting the decline.
GBPUSD, “Great Britain Pound vs US Dollar”
On H4 of GBPUSD, the situation is similar. The quotes are under the 200-days Moving Average, which means the prevalence of a downtrend. A breakaway of 4/8 down is expected, followed by a decline to the support level of 2/8. The scenario can be cancelled by rising above the resistance level of 5/8. This might bring the pair up to 6/8.
On M15, a breakaway of the lower line of Vloty Channel can increase the probability of the decline.
Source: Roboforex
